Moran Wealth Management LLC Purchases New Position in Sanmina Corporation (NASDAQ:SANM)

Moran Wealth Management LLC purchased a new position in Sanmina Corporation (NASDAQ:SANM - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 28,683 shares of the electronics maker's stock, valued at approximately $2,185,000. Moran Wealth Management LLC owned approximately 0.05% of Sanmina as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also bought and sold shares of SANM. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Sanmina during the 4th quarter valued at about $90,000. Smartleaf Asset Management LLC boosted its holdings in shares of Sanmina by 283.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,428 shares of the electronics maker's stock valued at $108,000 after purchasing an additional 1,056 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Sanmina by 34.1% during the 1st quarter. GAMMA Investing LLC now owns 1,720 shares of the electronics maker's stock valued at $131,000 after purchasing an additional 437 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in shares of Sanmina by 843.2% during the 4th quarter. Sterling Capital Management LLC now owns 1,726 shares of the electronics maker's stock valued at $131,000 after purchasing an additional 1,543 shares during the last quarter. Finally, Sage Rhino Capital LLC bought a new position in shares of Sanmina during the 4th quarter valued at about $214,000. Hedge funds and other institutional investors own 92.71% of the company's stock.

Sanmina Trading Up 1.1%

Shares of NASDAQ:SANM traded up $1.06 during trading on Friday, reaching $98.07. The company's stock had a trading volume of 1,305,826 shares, compared to its average volume of 411,595. The company has a current ratio of 1.96, a quick ratio of 1.22 and a debt-to-equity ratio of 0.12. Sanmina Corporation has a 12 month low of $61.52 and a 12 month high of $98.79. The firm's 50 day simple moving average is $84.27 and its two-hundred day simple moving average is $81.19. The stock has a market capitalization of $5.24 billion, a PE ratio of 22.70, a price-to-earnings-growth ratio of 1.47 and a beta of 1.14.

Sanmina (NASDAQ:SANM - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The electronics maker reported $1.41 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.03. Sanmina had a net margin of 3.09% and a return on equity of 10.84%. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter last year, the firm earned $1.30 EPS. The firm's revenue for the quarter was up 8.1% compared to the same quarter last year. On average, research analysts predict that Sanmina Corporation will post 5.15 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on SANM. Bank of America increased their price objective on shares of Sanmina from $95.00 to $100.00 and gave the company a "neutral" rating in a report on Monday, June 9th. Wall Street Zen raised shares of Sanmina from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th.

Sanmina Profile

Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. It operates in two businesses, Integrated Manufacturing Solutions; and Components, Products and Services. The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, manufacturing design release, and product industrialization; assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services, as well as engages in the manufacturing of components, subassemblies, and complete systems.